US Election Race Hots Up!

By Tom Higham

7th March, 2012

In The States yesterday thousands of American voters hit the poll as the race for the White House ramped up another level as the race to be the US Republican party candidate moved through “Super Tuesday”. Following a significant number of states voting Mitt Romney has pulled out a narrow lead winning in Florida, Nevada, Arizona, Vermont to name but a few and possibly most importantly Ohio. The State of Ohio is seen as important as there has never been a president elected that has not had control of this State. With his victories yesterday the expectation is that Romney will be the Republican candidate in November’s election against President Obama. The closer we get to the US election the more interest the currency markets will have with this and therefore possibly more volatility for Sterling US Dollar exchange rates.

Meanwhile in Australia there was some negative news as the Australian economy only grew by 0.4% against expected growth of 0.8%. This is quite worrying news for an economy that has remained strong despite the global financial meltdown and could lead to investors moving money towards safer currencies such as the US Dollar (USD) and Swiss Franc (CHF) as the so called riskier currencies such as the Australian Dollar (AUD) could weaken as a result. This news therefore could have a wide ranging impact in the currency markets and should we see continued weakness in the Australian economy it could result in some big swings for certain currency exchange rates.

If you need to transfer money overseas make sure you speak to one of our experienced currency brokers today so they can discuss your requirements and all the options available to you. Our knowledgeable dealers will also be able to keep you informed of any economic data or news that could have an impact on your currency transfer so call us today on our freephone number 0800 328 5884 or email info@currencies.co.uk

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